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Archive for December 14th, 2007Citigroup’s financial migraine worsens with asset shiftPosted by UK Economy News
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14Dec 07 Citigroup's move to shift troubled assets on to its balance sheet marks a radical step to right its finances, but analysts said Friday that the banking giant's financial migraine had worsened.
Read full story Britain now top World Bank donorPosted by UK Economy News
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14Dec 07 The United States lost its status as the largest donor to the World Bank's main fund for poor countries, the lender said on Friday, as Britain pledged more in the latest funding round that secured a record amount of aid.
Read full story Comments Off Malaysia’s Petronas to build platforms in Turkmenistan: TV reportPosted by UK Economy News
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14Dec 07 Malaysia's national oil company has been cleared to begin building oil platforms and share in pipeline construction in Turkmenistan, local television reported Friday.
Read full story Comments Off Oil retreats on U.S. economic worriesPosted by UK Economy News
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14Dec 07 Oil prices fell below $92 a barrel on Friday on concerns that rising consumer prices could increase the headwinds facing the U.S. economy and lead to a slump in fuel demand.
Read full story Comments Off Bush, Garcia, sign US-Peru trade pactPosted by UK Economy News
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14Dec 07 US President George W. Bush and Peruvian President Alan Garcia on Friday signed a US-Peru free trade agreement, each hinting that the pact was a poke in the eye to Venezuela's Hugo Chavez.
Read full story Comments Off Central bankers worry whether plan will workPosted by UK Economy News
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14Dec 07 Top European central bankers expressed concern on Friday about the success of a concerted action plan to grease the wheels of seized-up money markets, as U.S. banking giant Citigroup faced fresh strife.
Read full story Comments Off Air France-KLM ready to invest 9.4 bln dlrs in Alitalia: reportPosted by UK Economy News
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14Dec 07 Air France-KLM could invest 6.5 billion euros (9.4 billion dollars) in Alitalia under a takeover plan which would see up to 2,000 jobs cut at the struggling Italian flag-carrier, a report said Friday.
Read full story Comments Off HSBC to get funds from Taiwan to take over bankPosted by UK Economy News
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14Dec 07 HSBC will receive T$47.5 billion (717 million pounds) in Taiwan government funds and make a major cash infusion to rescue the failed Chinese Bank, in the latest Taiwan acquisition by a major foreign bank.
Read full story Comments Off Russian tycoons’ plan for Norilsk failed at vote: companyPosted by UK Economy News
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14Dec 07 A plan by Russian billionaires Mikhail Prokhorov and rival Vladimir Potanin to split up metals giant Norilsk Nickel failed Friday when Prokhorov turned against the proposal, the company and Interfax news agency said.
Read full story Comments Off Lufthansa-JetBlue deal may be start of a trendPosted by UK Economy News
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14Dec 07 Deutsche Lufthansa's surprise swoop for a 19 percent stake in discount U.S. carrier JetBlue Airways could be the start of a large-scale ownership grab in the global airline industry.
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